MANILA, Philippines - Equicom Savings Bank (EqB) has signed an agreement to join Home Guaranty Corp.’s (HGC) Bankers-Builders- Buyers (BBB) program.
The BBB program is in line with HGC’s primary function as housing fund mobilizer. It brings together bankers, builders and buyers in a solid housing finance unit that complements each other’s needs and functions.
The partnership is expected to boost EqB’s current home loan offerings through a deeper understanding of the needs and functions of different builders and buyers.
The BBB program assists partner banks in promoting their housing loan products to builders and homebuyers, and in turn, brings builders to banks for project financing and promoting housing units to prospective homebuyers.
Moreover, the BBB program guides prospective homebuyers to self-qualify for housing loans and provides them with home-buying options according to their financial capacities and preferences such as housing unit, location, etc.
EqB, the first ever recipient of the Pagtugon Award given by the Bangko Sentral ng Pilipinas, offers convenient home loan procedures, reasonable processing turn-around time and very competitive home loan rates in the industry.
On the other hand, HGC provides flexible guarantees and tax incentives to banks, financial institutions and investors granting housing development loans and home financing.
HGC president Manuel R. Sanchez, Equicom Group vice chairman Rene J. Buenaventura, and Housing and Urban Development Coordinating Council (HUDCC) chairman and Vice President Jejomar C. Binay graced the formal launching of EqB’s partnership with HGC.